KAZ Minerals has attracted a $50 mln revolving credit line
Edited by Rhod Mackenzie / 2015-08-17 01:18:54
Kazakhstan Kazakhstan mineral extraction KAZminerals Metals and mining Kazakhstan Metals and Mining Copper
The period of the available credit line is 3 years from the date of signing, by the expiration of which the loan is due to be settled in 4 equal quarterly payments.
KAZ Minerals group has signed an agreement on the attraction of a $50 mln revolving credit line from Caterpillar Financial Services Limited (Cat Financial), subdivision of Caterpillar Inc, KAZ Minerals reported.
Caterpillar Inc – the main producer of equipment for the projects of growth of KAZ Minerals – Bozshakol and Aktogay.
The interest rate at 4.25% is higher that LIBOR rate and will be applied to the actual amount of use of the credit line. Financial covenants are similar to those existing for the pre-export credit line from the syndicate of banks.
